Institute for Supply Management’s index rose to 57.8 in June, strongest reading in nearly three years

The strongest reading on U.S. factory activity in nearly three years signaled underlying health in the economy headed into the second half of 2017.

The Institute for Supply Management on Monday said its index of U.S. manufacturing activity rose to 57.8 in June, its highest level since August 2014. A number above 50 indicates expansion; economists had expected a more modest rise from May’s 54.9.